India's Forex reserves touch new life-time high

Business
| Aug. 12, 2017, 12:17 p.m.

Mumbai, Aug 12: The country's foreign exchange reserves touched a new life-time high of USD 393.448 billion after rising by USD 581.1 million in the week to August 4 on account of increase in foreign currency assets (FCAs), the RBI data showed.

In the previous week, the reserves had surged by USD 1.536 billion to USD 392.867 billion.

FCAs, a major component of the overall reserves, rose by USD 964.4 million to USD 369.723 billion, the data showed.

Expressed in US dollar terms, FCAs include effect of appreciation or depreciation of non-US currencies such as the euro, the pound and the yen held in the reserves.

After remaining stable for past few weeks, the gold reserves declined by USD 405.7 million to USD 19.943 billion.

The special drawing rights with the International Monetary Fund (IMF) went up by USD 8.9 million to USD 1.504 billion.

The country's reserve position with the IMF rose by USD 13.5 million to USD 2.277 billion, the apex bank said.